Interbank interest rates increase

Compared to the end of July, VND interest rates on the interbank market have increased by 0.2 - 1.9% per year, especially sharply increasing in short terms.

According to the State Bank of Vietnam (SBV), the interest rate of VND in the interbank market increased sharply again after a decline in late July. The average interbank interest rate on August 4 for overnight terms increased to 5.22%/year, 1 week to 5.27%/year, 2 weeks to 5.26%/year, 1 month to 4.82%/year, 3 months to 5.13%/year, 6 months to 5.5%/year. Interest rates increased but sales decreased such as overnight to 541,905 billion VND, 1 week to 17,929 VND, 2 weeks to 2,050 billion VND...

Interbank interest rates in VND increase. PHOTO: NGOC THANG

In the open market, the State Bank continued to pump large amounts of money. On August 5, more than VND19,996 billion was pumped into the market for terms of 7, 14 and 26 days, with an interest rate of 4%/year. Previously, the operator also continuously pumped into the market from VND25,000 to VND31,000 billion per day.

To reduce lending interest rates in the coming time, Mr. Pham Thanh Ha - Deputy Governor of the State Bank of Vietnam said that the State Bank of Vietnam will continue to operate appropriate and effective monetary policy tools to support liquidity for credit institutions (CIs) to promptly provide credit capital focused on investment development, production, business and consumption, ensuring growth promotion, macroeconomic stability, and inflation control. At the same time, closely follow the movements of the CI system to operate interest rates in accordance with market developments, macroeconomics, inflation and monetary policy targets. Continue to direct CIs to further reduce costs, promote digital transformation to strive to lower lending interest rates; at the same time, require CIs to seriously publicize average lending interest rates on the website.

"The State Bank of Vietnam will strengthen inspection, examination and close supervision of credit granting activities of credit institutions, compliance with policies and directions of the Government, Prime Minister and the State Bank of Vietnam on stabilizing deposit interest rates, reducing lending interest rates, announcing deposit interest rates and lending interest rates; strictly handle violations, unfair competition in interest rates by credit institutions, and violations of the law," said Mr. Pham Thanh Ha./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/lai-suat-tien-dong-lien-ngan-hang-tang-cao-185250805174436429.htm

Source: https://baolongan.vn/lai-suat-tien-dong-lien-ngan-hang-tang-cao-a200164.html